Speaking at this morning's annual general meeting chairman, Jeremy King said the company had undergone a year of change and was now in a position to "attack".
"Obviously the market is hot for vanadium and obviously the board is painfully aware of that," King said.
Beneficiation would be simple, and the nature of the DSO ore means most of what goes in the magnetic separation plant would come out the back end.
A typical 500,000tpa modular plant would cost less than A$20 million to construct over just six months.
"There are a lot of boxes to tick before we can do that, and getting a project up is difficult at the best of times, especially when you are doing it quickly, but we are hoping for the second half of next year," Oliver said.
The scoping study for the DSO option could be delivered in the first quarter of 2019, which could support production before next November's AGM, but that is no sure thing, Oliver stressed.
Given a "keenness" for the product from the markets, finding potential off-takers and finance should not be an issue.
Sounds like plenty is happening behind the scenes. Obviously with the rules regarding scoping studies and what can/can't be said & contained in them having changed and been enforced much more stringently in some instances recently (which I'm certain Bill will be very aware of), could be contributing to the lack of information I was hoping to be updated on by now.
This article contains quotes from Bill/Jeremy at the AGM yesterday. Once the resource has been converted to JORC and then from inferred to indicated (which should be done in weeks rather than months), the scoping study can be further developed which should give the market a pretty good idea of the assets potential. Looks like this could be released in 4 months time.
My call of DSO potentially 12-18 months away looks a little more valid now!
TNO Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
